Open

Coming up

Don't miss

Replay


LATEST SHOWS

MEDIAWATCH

A thin line between fact-checking and propaganda in Gaza social media coverage

Read more

DEBATE

Gaza: How to Stop the Spiral? Israel Readies For Ground Offensive (part 2)

Read more

DEBATE

Gaza: How to Stop the Spiral? Israel Readies For Ground Offensive

Read more

FOCUS

Ireland's missing babies casting light on a dark history...

Read more

WEB NEWS

World Cup 2014: Germany-Brazil inspires the Web

Read more

THE INTERVIEW

Boutros-Ghali: 'I wanted to reform the UN'

Read more

IN THE PAPERS

57 000 little problems

Read more

IN THE PAPERS

The Sarkozy 'threat'

Read more

BUSINESS DAILY

Budget challenge for India's new government

Read more

  • Hamas rockets reaching deeper into Israel

    Read more

  • French companies will have to accept anonymous CVs

    Read more

  • Ukrainian forces close in on Donetsk

    Read more

  • Germany asks US intelligence station chief to leave country

    Read more

  • Death toll rises in Gaza as militants target Israeli cities

    Read more

  • UN chief Ban Ki-moon appoints new Syria mediator

    Read more

  • Video: Muslims in China confront obstacles to Ramadan fasting

    Read more

  • Tour de France passes WWI Chemin des Dames battlefield

    Read more

  • Senegalese man awarded French visa in gay marriage debate

    Read more

  • Israel steps up airstrikes as diplomacy gets under way

    Read more

  • Argentina beat Netherlands on penalties to reach World Cup final

    Read more

  • Foiled French jihadist ‘targeted Louvre and Eiffel Tower’

    Read more

  • Obama in Texas to urge congressional action on child migrant crisis

    Read more

  • Iraq’s heritage 'in danger' from ISIS militants

    Read more

  • 100 years on, the Tour de France returns to the Western Front

    Read more

Financial police summons former EADS co-head

©

Latest update : 2008-05-26

Noel Forgeard, former co-head of European aerospace group EADS, is to appear before the French financial police unit as part of a probe of insider trading said to have occured when shares were sold just before an A380 delay was announced.

Noel Forgeard, former co-chief executive at European aerospace group EADS, has been called to appear before the French financial crime unit in connection with a probe into alleged insider trading, sources close to the matter said Monday.

They said Forgeard, who resigned in July 2006, was to appear Wednesday.

A judicial investigation was launched in November 2006, following complaints from an association of small shareholders and other parties, into possible insider trading at EADS, the parent company of aircraft manufacturer Airbus.

The plaintiffs alleged that a number of EADS executives, including Forgeard, sold shares in the company prior to an announcement in June 2006 of major delays to the Airbus A380 superjumbo program. The announcement triggered a sharp slide in EADS shares.

To date, no one has been placed under formal investigation by Judges Xaviere Simeoni and Cecile Pendaries.

But in April the French financial market regulator, the AMF, said it had found evidence of possible insider trading on the part of 17 EADS executives as well as the group's principal shareholders -- the French media and technology company Lagardere and German automaker Daimler.

Reports at the time said Forgeard was among those named by the AMF.

Forgeard has denied any wrongdoing.

Date created : 2008-05-26

Comments

COMMENT(S)